Tycoon who built up Barratt homes for the masses dies aged 85

AN entrepreneur who helped bring home ownership to the masses has died following a long battle with illness.

Sir Lawrie Barratt died at his home in Corbridge, Northumberland, on Wednesday. He was 85.

The tycoon founded Barratt Developments after building his own home and the company now employs more than 4,000 people.

Two years ago Sir Lawrie and his wife, Lady Sheila, were deeply distressed after three masked raiders burst into their home armed with crowbars.

The gang bound and gagged the couple before making off with a hoard of jewellery believed to be worth more than £10,000.

Friends said they were still struggling to come to terms with the violence used in the raid.

Sir Lawrie had the vision to understand how deeply rooted the desire for home ownership is in this country.

Mark Clare, chief executive of Barratt Developments

Sir Lawrie had been increasingly frail over recent months although his actual cause of death has not yet been confirmed.

The businessman, who left school at 14, initially trained as an accountant. But after being frustrated at high house prices for first-time buyers, in 1953 he built his own house.

After starting the company it grew into a national firm, building around 10,000 houses a year. It was famous for its advertising campaign featuring actor Patrick Allen in a helicopter and for offering deals for first-time buyers and part-exchanges.

Knighted in 1982, Sir Lawrie stepped down in 1988 but returned to the company during the 1991 recession.He retired for good in 1997 but remained life president. The firm is currently worth around £2billion.

Mark Clare, chief executive of Barratt Developments, said: “Sir Lawrie had the vision to understand how deeply rooted the desire for home ownership is in this country.

“Under his leadership the company brought home ownership within reach of many people.

“It is no exaggeration to say that there are hundreds of thousands of people in the UK today who have bought or lived in homes inspired by Sir Lawrie.”

Sir Lawrie and Lady Barratt’s son Peter followed in his father’s footsteps to open garden centres, now part of the Wyevale group. Their granddaughter Fiona is married to former England football star Sol Campbell.